VLB Land Loans

The VLB Veterans Land Loan Program is the only one of its kind in the nation, giving Texas Veterans the opportunity to borrow up to $150,000 to purchase land at competitive interest rates while typically requiring a minimum 5% down payment for tracts one acre or more.

The program is easy to use and offers Texas Veterans exclusive financing towards purchase of their own piece of Texas. The bonds used to fund the program are retired from loan repayments and the cost of administering the program is financed through a small fee charged on each loan.

LAND LOAN REQUIREMENTS

To be eligible for VLB financing, the land must:

Be wholly within the state of Texas

Contain at least one acre, excluding any portion beneath a dedicated public roadway or navigable waterway or subject to frequent inundation or otherwise unusable.

Have legal, usable access to a public road. Access must be a minimum of 60 feet wide or meet the county public road width requirements, whichever is greater. “Usable” means that it can be driven on by a standard passenger car in inclement weather.

Be properly described by either a Field Note description of the tract with the Surveyor’s Official Seal and Signature (original or copy), or a complete copy of the recorded subdivision plat if the description is by Lot & Block.

Not be zoned strictly for commercial use.

Not have been owned by you or your spouse within the previous three years.

No value will be given to any improvements on tracts. Multiple, contiguous tracts may be combined under one financing instrument provided each share is not less than 60 linear feet of common boundary or tracts are adjacent to one another and separated solely by the actual width of the public right of way.

LAND LOAN FINANCING

Land Loans – Veteran/Military Interest rate 7.25%

VLB provides financing on tracts up to $150,000 with a minimum 5% down-payment and a fixed-rate 30-year loan term. A $325 appraisal and contract service fee is due at the time of application. There is no pre-payment penalty.

If you have not already identified the land you wish to purchase, consider the following options:

Once a Veteran, or his or her successor, has successfully paid off a VLB land loan s/he may apply for another VLB land loan. The same applies to our home and home improvement programs. All VLB programs are self-funded, using no public taxpayer funding. VLB programs are financed with bonds, which are serviced by loan payments from Veteran participants.

CURRENT ACCOUNT HOLDERS

If your account is current with the VLB Loan Program, you may access your account online.

Please note, if you have problems with the processing of your loan payment, you can call our VLB Veteran Hotline or email us at info@texasveterans.org and we can help you resolve the issue. We are here to serve YOU!

SEVERANCES

The VLB’s severance policy allows Veterans to obtain a fee title to a portion of their VLB tract. Such partial resale requests are always at the sole discretion of the VLB and subject to higher valuation pricing and stricter guidelines than severances for a home site. It is also the policy of the VLB that any request for severance represents a request to “subdivide” the existing tract. Therefore, all severances must be in compliance with state laws and county and local ordinances governing any such “subdivision”. If any such law or ordinance imposes a condition that is more restrictive than the policy or procedure contained herein, the law or ordinance will control.

Tracts less than 3 acres: The TVLB will not grant a severance.

4 – 19 acres: A severance is possible. The severance must be a minimum of one acre or the minimum size required by county and local regulations, whichever is larger. A partial release must allow sufficient room for the house, septic system and water well (where applicable), all of which must fit entirely within the boundaries of the partial release. Note: Before hiring a surveyor, please contact our Servicer.

ASSUMPTIONS (TRANSFERS)

Assumptions (transfers): For information concerning Assumptions (also know as transfers), contact our servicer at 1-866-654-6345 and ask for Special Loans. Assumption forms must be requested by the account holder, and will only be mailed to the account holder. VLB Land Loans may be assumed after three years.

VETERAN ELIGIBILITY

To be eligible for VLB programs, Veterans, military members and their spouses must be:

At least 18 years of age

A bona fide and legal resident of Texas on the date of application and meet oneof the following service criteria:

An active duty military member

A member of the Texas National Guard

A reserve component military member having completed 20 qualifying years for retirement

A Veteran having served at least 90 active duty days unless discharged sooner due to service connected disability and not discharged dishonorably

A surviving spouse of a Veteran listed as missing in action or whose death was service connected

Military Service Documents

Military Service Records Visit the National Archives to request your military service records online, by mail, or by fax. Records include DD214/Separation Documents, Personnel Records and Medical Records.